ECO 3301 Fall 2010 Homework 2: Answer Key The due date for this assignment is Monday, September 20 (beginning of class) 1. Since more of each good is preferred to less, we can conclude preferred to an alternative basket if it lies above and to the basket.
ECO 3301 Fall 2010 Homework 1 The homework is due at the beginning of class, Friday, Sep 3 1. The demand for books is:Qd = 120 - P The supply of books is:Qs = 5P (a) What is the equilibrium price of books? (b) What is the equilibrium quantity of books sol
ECO 3301 Fall 2010 Homework 1: Answer Key The due date for this assignment is Friday, September 3. 1. The demand for books is:Qd = 120 - P The supply of books is:Qs = 5P (a) Equate Qd and Qs, to get 120 - P = 5P. So, that 6P = 120. Therefore, the equilibr
ECO 3301 Fall 2010 Homework 2 The due date for this assignment is Monday, September 20 (beginning of class) 1. The following combinations of goods X and Y represent various market baskets. Consumption is measured in pounds per month. Market Basket Units o
ECO 3301 Fall 2010 Homework 3 The due date for this assignment is Monday, September 27 (beginning of class) 1. (a) A consumer has $100 per day to spend on product A, which has a unit price of $7, and product B, which has a unit price of $15. What is the s
ECO 3301 Fall 2010 Math Review 1. Plot the following linear curves in the x-y plane, with x on the horizontal axis, and y on the vertical axis. Clearly, show the y-intercept and the x-intercept.Find the slope (using calculus and otherwise: y=mx+c) (a) x =
OVERVIEW OF
Math Concepts that All Economics Students Should Know After Completing Math 1309 And Preparing to Enter ECO 3301: Intermediate Microeconomics Compiled by Professors Tom Fomby, Santanu Roy, and Shlomo Weber of the Department of Economics and Pr
ECO 3301-005 INTERMEDIATE MICROECONOMICS Fall 2010, MWF 12:00pm 12:50pm, Umphrey Lee 241 Instructor: Manan Roy Office: Umphrey Lee 301 H Office Hours: Monday, Wednesday, and Friday: 11:00 am-11:55 am, or by appointment E-mail Address: [email protected] Re
Quiz 4
Short run
However long it takes to produce the planned output
Production function
Assumes a given technology
Variable inputs in long run
Labor
Capital and equipment
Plant size
Topic 5 aka Chapter 6
03/24/2015
Profit ( pie)= Revenue- Cost
Reven